The time t in years for an amount of money invested at an interest rate r (in
Question:
The time t in years for an amount of money invested at an interest rate r (in decimal form) to double is given by
This is the doubling time. Find the doubling time to the nearest tenth for an investment at each interest rate.
(a) 2% (or 0.02)
(b) 5% (or 0.05)
(c) 8% (or 0.08)
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To find the doubling time for each interest rate we can substitute the given int...View the full answer
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Related Book For 
Intermediate Algebra
ISBN: 9780134895987
13th Edition
Authors: Margaret Lial, John Hornsby, Terry McGinnis
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